Thailand is transitioning into a super-aged society. Labor-intensive businesses are at risk of labor shortages as Thailand undergoes changes in its demographic structure. It is projected that Thailand will become the first developing country in Asia to shift from an aged society to a super-aged society by 2029.
KResearch holds the view that labor shortages will worsen and impact labor-intensive industries, especially in the agricultural and service sectors, such as hotels and restaurants, and construction businesses. The demographic change to a super-aged society may lead these businesses to rely more on low-skilled foreign workers, particularly from neighboring countries.